Cohen's agent, Drew Rosenhaus, told ESPN's Adam Schefter that the deal is worth $17.25 million in new money ($5.75 million per year) with the opportunity to be worth $18.25 million at $6.093 million per year. Cohen's extension includes $9.533 million fully guaranteed and a $12.033 million max guarantee.
Cohen, 25, is an all-purpose threat on offense who earned a trip to the 2018 Pro Bowl as a return man on special teams. A fourth-round pick out of North Carolina A&T, Cohen rushed for 1,027 yards and five touchdowns and caught 203 passes for 1,534 yards and nine scores over his first three seasons in Chicago from 2017 to 2019.
"We're extremely excited about being able to extend Tarik," Bears general manager Ryan Pace said Sunday. "He's a versatile player that has a big impact on offense and special teams. We love his character, and he's been a spark plug for our team since we drafted him. Tarik and I both feel he's a young, ascending player with a lot of high-level years left in this league, and we are glad he will be with us in the years to come."
Cohen, who has two career touchdown passes, became the shortest player (5-foot-6) since 1934 to throw an NFL touchdown pass when he fired a 21-yard scoring strike as a rookie in 2017. That same year, Cohen became the first NFL rookie to score a rushing, receiving, passing and punt-return touchdown since Hall of Famer Gale Sayers in 1965.
Cohen had 47 yards from scrimmage in Chicago's 27-23 victory at the Detroit Lions in Week 1.